Business
Business, 28.01.2020 18:41, letdou2670

south carolina corporation has one temporary difference at the end of 2014 that will reverse and cause taxable amounts of $55,000 in 2015, $60,000 in 2016, and $65,000 in 2017. south carolina's pretax financial income for 2014 is $300,000, and the tax rate is 30% for all years. there are no deferred taxes at the beginning of 2014.
instructions

(a)
compute taxable income and income taxes payable for 2014.

(b)
prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2014.

(c)
prepare the income tax expense section of the income statement for 2014, beginning with the line ? income before income taxes.?

answer
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 23:00, AshlynPlayz45
The monthly payment m of a loan of amount p for y years with an interest rate r can be calculated by the formula: m = p(r/12) 1 â’ (1 + r/12)â’12y calculate the monthly payment and the cummulative total payment for a $100,000 loan with an interest rate of 4.85% if taken out for 10 years, for 11 years, etc., up to a 30 year term. display the results in a three-column table where the first column is the number of years, the second is the monthly payment, and the third is the cummulative total payment. note: use format bank; for this problem. also, remember to represent the interest rate as a decimal (e. g. 0.0485) 2. a torus-shaped water tube is designed to have a volume of 8, 000in3 . the volume of the tube, v , and its surface area, s, are given by: v = 1 4 ď€ 2 (a + b)(b â’ a) 2 s = ď€ 2 (b 2 â’ a 2 ) if a = kb, determine s, a, and b for k = 0.2, 0.3, 0.7. display the results in a table
Answers: 1
image
Business, 22.06.2019 10:10, AdamFrost
An investment offers a total return of 18 percent over the coming year. janice yellen thinks the total real return on this investment will be only 14 percent. what does janice believe the inflation rate will be over the next year?
Answers: 3
image
Business, 22.06.2019 11:30, avhobby3
Which of the following is not an example of one of the four mail advantages of prices on a free market economy
Answers: 1
image
Business, 22.06.2019 21:20, zarzuba
Afamily wishes to save for future college expenses. which financial tool should the family invest in?
Answers: 1
Do you know the correct answer?
south carolina corporation has one temporary difference at the end of 2014 that will reverse and cau...

Questions in other subjects:

Konu
Biology, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
English, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01
Konu
Mathematics, 13.09.2020 07:01